BRIEF—C4X Discovery receives first milestone payment from Sanofi

C4X Discovery Holdings, a pioneering UK drug discovery company, today announced that it has received a milestone payment of 3 million euros ($3.1 million) from Sanofi under the interleukin (IL)-17A Inhibitor program license agreement entered into in April 2021.

Under the terms of the deal, C4XD is entitled to up to a total of 414 million euros in upfront, pre-clinical, development, regulatory and commercialization milestone payments plus royalties on future net sales.

C4X chief executive Clive Dix commented: “This first milestone payment is an important step in demonstrating the value of C4XD’s expertise and our unique approach to drug discovery to deliver differentiated small molecules to the pharmaceutical industry. We are delighted to be working with Sanofi to rapidly drive the programme through this pre-clinical phase and we are confident that our molecules have the potential to deliver future life-changing oral IL-17A therapeutics for patients.”